There is a lack of inventory everywhere, not just Albany. That being said, you are correct, there are only two 3 bedroom houses currently available in Albany- however I don't believe that waiting is really going to help much with the purchase price.
Summer usually brings an increase in listings, but also an increase in buyers, which results in an increased price for the summer (the prime real estate season).
If you wait until the Fall/Winter, prices usually drop, but so does inventory. You might want to do that, however, if you're wondering if prices will drop in general I don't think that is the case. I believe the bottom has passed, at least for the Bay Area.
I think that with the low interest rates, with the relatively low prices right now may be the best time to buy.
If you have any other questions please feel free to contact me!
Buyerâ€™s Specialist | DRE# 01887446
Better Homes and Gardens Real Estate
2095 Rose St, Ste 100 | Berkeley, CA 94709
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Not sure about Albany in particular, but in general in coastal CA what appears to be happening is prices in the middle and high tiers are reaching new post bubble lows. Where the low price tier is holding steady on up a bit.... more